Task 1.

, , \"Closed.\" The normally indefatigable '52 I ear-01d owner of Emma s Parlor was bone- - r , ; , . , v " ' if seriously considering some major changered' Any {1011th she d harbored about the Wisdom usmess were fast disappearing. herself. She'd personally chosen the exterior, hung the lace curtains, selected the fresh owers that-graced the small circular tables, hired the staj and tracked down and tested recipes for the ginger, sandwiches, scones, jams and Battenburg cake that earned her glowing reviews in numerous guidebooks and a national ' reputation. Quickly realizing that special events were key to attracting Customers, she organized and publicized fanciful gatherings that drew everyone from children toting their favorite stuffed 7 animals to an Alice-imWonderland affair to women dressed in their best outts, complete with ' big oppy hats, to a Midwest version ofa royal garden party. Thetea morn, which mwemployed about 20 people, wasnearlyalways completely boom , Most of all, the. former nurse developed a real expertise when'it came to teas, becoming particularly fascinated by the medicinal benets of herbal teas She started by conducting evening workshops on the efcacy of organic teas in treating everything from a simple upset stomach to menopausal distress._Eventnally, she'began blending her worn Emma's Parlor Organic Teas and selling them to retail stores, restaurants, and individuals over the Web. As more and more publicity pointed to the benets of tea, her Web-based business ourished, generating slightly less revenue than she was realizing from the tea room. The prot margins were higher.. Despite the fulllment she found in running her own business, it was getting too big for her to handle. Emma was beginning to experience the all-too-tamiliar symptoms of burnout. Alter she locked the ion: door, she nude hetselfa soothing cupofrosebudtea, kicltedoffher sensible shoes, and sat down to review her options. Maybe she could drop the tea momand focus on the Internet business, or vice versa. She could try to master the ne art of delegation and turn Emma's Parlor over to an experienced restaurant manager, orshe could take herselt out OI the picture by selling the tea room outright. Then again, she could simply close the restaurant or the Internet business. Questions: 1. At what business stage is Emma's Parlor? At what stage is her Web-based organic tea business? What synergies exist between the two businesses? How critical do you think those synergies are to the success of each business? 2. How does Emma Lathbury fit the profile of the typical entrepreneur? Which of those traits are likely to continue to serve her well, and which might be counterproductive at this stage of her business? 3. After listing the pros and cons for each of Emma's options and considering her personality, which course of action would you recommend?Direction: Answer the following questions briefly and cite examples/illustrations. 1. Write a brief mission statement for a local business with which you are familiar. How might having a clear, written mission statement benefit a small organization? 2. What strategic plans could the college or university at which you are taking this management course adopt to compete for students in the marketplace? Would these plans depend on the school's goals? 3. How do you think planning in today's organizations compares to planning 25 years ago? Do you think planning becomes more important or less important in a world where everything is changing fast and crises are a regular part of organizational life? Why? 4. In what types of organizations do you think event-based planning would be most useful? What about scenario planning? Why? 5. Come up with a stretch goad for some aspect of your own life. How do you determined whether it makes sense to pursue a stretch goal